Mad Piston Brothers Phil. (La Carlota City Chapter)

A nonprofit organization (abbreviated as NPO) is an organization that does not issue stock shares or distribute its surplus funds to owners or shareholders, but instead uses the funds to help achieve its goals.[1] Examples of NPOs include charities (i.e., charitable organizations), trade unions, trade associations and public arts organizations. Most governments and government agencies are describe

d by this definition, but in most countries they are considered a separate type of organization and not considered as NPOs. While Not-for-profit organizations are able to earn a profit, more accurately termed a surplus, such earnings must be retained by the organization for its self-preservation, expansion, or plans.[2] NPOs have controlling members or boards. Many have paid staff including management, while others employ unpaid volunteers and even executives who work without compensation.[3]

Profit is not the primary goal of an NPO, but because an NPO can legally and ethically trade at a profit, the term Not-for-profit is often considered more appropriate than Non-profit. The extent to which an NPO can generate income may be constrained, or the use of that income may be restricted. Nonprofits therefore are funded typically by donations (which may be tax deductible) from the private or public sector, and are typically exempt from income and property taxation. Some NPOs may internalize profit in the form of comparatively good wages or benefits.